North America

Trans Mountain Successfully Removes Pipe from Final Expansion Section

Trans Mountain Corp., the Canadian government-owned oil pipeline company, said on Wednesday it successfully removed a pipe from the final section of an expansion project that will nearly triple the flow of crude from Alberta to the Pacific Coast.

Devon Energy Reports Lower Profit, Anticipates Production Impact from Winter Storm

U.S. shale producer Devon Energy reported a fall in fourth-quarter profit on Tuesday, hurt by lower oil and gas prices and forecast a 2% impact in first-quarter production due to severe winter weather.

BP Urges U.S. Regulators to Deny Venture Global's Permit Extension Request

BP Plc on Tuesday urged U.S. regulators to refuse Venture Global LNG's request for an extension of time to build its Calcasieu Pass export plant.

Trans Mountain Pipeline Expects Q2 Launch, 10% Cost Increase

Trans Mountain Corp., the Canadian government-owned oil pipeline company, continues to target a second-quarter in-service date for its expansion and expects the project's cost to rise 10%, according to a filing.

Oil and Gas Upstream M&A Deal Value Hits Highest Q1 Levels Since 2017

An ongoing consolidation in the U.S. shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first-quarter level in seven years, industry experts said.

U.S. Takes Lead as Top Supplier to Europe for Crude, Diesel and LNG

The United States has taken the top spot as Europe's supplier of crude oil, diesel, and liquefied natural gas (LNG) in recent months, capitalizing on reduced imports from east of Suez caused by shipping disruptions in the Red Sea.

Canadian Oil and Gas Producers Bump Up Spending, Industry Group Says

Canadian oil and natural gas producers will spend an estimated $30.07 billion on capital projects this year, up slightly from $28.89 billion last year, the Canadian Association of Petroleum Producers (CAPP) said on Tuesday.

Qatar's LNG Expansion Plans Set to Squeeze Out U.S., Rivals

Qatar's planned expansion of LNG production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts said.

Pipeline Firm ONEOK Posts Higher Fourth-Quarter Profit on Strong Volumes

ONEOK, which has about 50,000-mile long network of pipelines, said its Rocky Mountain region natural gas liquids (NGL) raw feed throughput volumes rose by 20%, compared to last year.

Venture Global LNG Refuses to Provide Confidential Documents Without Regulatory Order

Venture Global LNG on Monday told U.S. regulators it will not provide energy firms Repsol SA and Galp Energia with confidential documents on a Louisiana export terminal's operations unless ordered to do so.

U.S. Gas Glut Sparks Ultra Bearish Sentiment Among Hedge Funds

Portfolio investors have become extremely bearish about the outlook for U.S. gas prices, even though prices have already fallen to their lowest level in real terms since futures began trading in 1990.

Marathon Oil Beats Profit Estimates on Higher Production

Marathon reported a rise in its oil and gas output to 404,000 barrels of oil equivalent per day (boepd) from 333,000 boepd in the previous year.

DTE Energy Seeks Developers for New Renewable Projects

The energy company, which operates a natural gas company in Michigan, is seeking proposals for renewable energy projects totaling about 1,075 megawatts (MW) to advance its decarbonization efforts.

Exxon, EnLink Midstream to Expand CCS Pipeline Transportation Along Gulf Coast

ExxonMobil and EnLink Midstream are exploring opportunities for EnLink to support ExxonMobil's carbon capture and sequestration (CCS) efforts beyond the southeast Louisiana Mississippi River Corridor into several additional Gulf Coast areas.

U.S. Regulators Set April Deadline for Decision on Venture Global LNG Permit Extension

U.S. energy regulators on Friday said they would decide quickly on liquefied natural gas developer Venture Global LNG's request for a one-year extension to its construction permit for its Calcasieu Pass LNG plant in Louisiana.

TotalEnergies Texas Refinery Operating at Minimal Rates Amid Upsets

TotalEnergies' 238,000-barrel-per-day refinery in Port Arthur, Texas, is operating at minimal production as it contends with multiple upsets, sources said on Wednesday.

U.S. Oilfield Jobs at Risk as Natural Gas Prices Plummet

Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production.

Pioneer Natural Exceeds Production Expectations Amid Pending Exxon Takeover

Pioneer Natural Resources on Thursday reported 2023 production that exceeded its prior forecast, as the U.S. shale producer works to close its about $60 billion purchase by oil major Exxon Mobil later this year.

Venture Global LNG Customers Challenge Permit Extension Request

Three of Venture Global LNG's major customers have asked U.S. energy regulators to address the LNG developer's request for a one-year permit extension to complete a Louisiana export facility, signaling their intention to voice concerns.

Cheniere Energy's Annual LNG Revenue Falls on Lower Natural Gas Prices

U.S. liquefied natural gas (LNG) company Cheniere Energy on Thursday forecast a lower core profit for 2024 as prices of the fuel buckle under excess supply, sending its shares down 1.7% premarket.

Chesapeake Plans to Cut Output, Spending Amid Oversupplied Natural Gas Market

Chesapeake Energy said it would cut spending and natural gas output this year as it sees the market being "oversupplied", causing the company's shares to rise more than 7% on Wednesday.

Analysis: Trans Mountain Expansion May Offer Short-Term Relief for Canada's Oil Output, Long-Term Challenges Loom

Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion starts this year, but the relief may be short-lived as surging supply looks set to exceed the country's pipeline capacity in just a few years.

FOCUS: Tumbling U.S. Natural Gas Prices Prove Unstoppable, Hurting Producers

For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies.

Chesapeake Energy Beats Q4 Profit Estimates Amid Lower Expenses, Production Decline

Chesapeake Energy beat Wall Street estimates for fourth-quarter profit on Tuesday as the natural gas producer saw a steep decline in its operating expenses.

Kyushu Electric to Await U.S. LNG Policy Clarity Before Lake Charles Decision

Japan's Kyushu Electric Power will wait until after the United States resumes issuing export licenses for new LNG projects before deciding on whether to invest in the Lake Charles project, an executive said.

CenterPoint Energy to Sell 12,000-Mile Pipeline Network in Louisiana, Mississippi for $1.2 Billion

CenterPoint Energy said on Tuesday it would sell its natural gas assets in Louisiana and Mississippi for $1.2 billion to Bernhard Capital Partners, as the electric and gas utility plans to focus on its regulated business.

Occidental Considers $18 Billion Sale of Western Midstream, Sources Say

Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of more than $18 billion, including debt, according to people familiar with the matter.

Equitrans Delays Mountain Valley Natural Gas Pipeline Again, Increases Projected Cost

U.S. energy firm Equitrans Midstream has delayed the estimated completion of its Mountain Valley natural gas pipeline from West Virginia to Virginia to the second quarter from the first quarter due in part to adverse weather in January.

EQT Misses Quarterly Profit Estimates on Lower Prices, Plans Moderate Drilling Expansion

EQT Corp., the largest U.S. natural gas producer, missed fourth-quarter profit estimates on Tuesday, as higher sales volumes were offset by lower gas prices.

Cenovus Energy Boosts Production Despite Refinery Challenges, Shares Rise 7%

Cenovus Energy narrowly missed analysts' estimates for quarterly profit, but higher production and refinery throughput volumes pushed shares in the Canadian oil and gas producer as much as 7% higher on Thursday.